Waqar Zaka says FIA should be stopped from Arresting Bitcoin Possessors

[BlueWhales]

State Bank hasn’t banned cryptocurrency in Pakistan, lawyer tells SHC


Waqar Zaka says FIA should be stopped from arresting possessors



The State Bank has not imposed a ban on cryptocurrency in Pakistan, the central’s bank lawyer told the Sindh High Court on Thursday.



The lawyer said the bank had issued a warning against it and hasn’t regularised it.

It was misreported by the media that cryptocurrency has been banned in Pakistan, said social worker and TV show host Waqar Zaka, the petitioner in the case. The FIA has been arresting people for possessing Bitcoins and they should be stopped, he argued. “Parliament has not passed any law to ban it.”

The central bank has said that no one can be stopped from starting new businesses but they won’t provide any guarantee to those investing in cryptocurrency, remarked Justice Amjad Ali Sahito.

The court had given the federal government a last chance to submit its written reply in the case and summoned the FIA Cybercrime Wing’s deputy director at the next hearing.

Zaka had filed a petition against FIA arresting people for “carrying” Bitcoins in January.

On April 7, 2018 the State Bank had issued a warning against the use of cryptocurrency in Pakistan. “The SBP has not authorised or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such virtual currencies/coins/tokens in Pakistan,” read its notification.

It prohibited banks from “processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/tokens”.

The warning was issued because of the tremendous volatility of virtual currency exchanges, which sparked concerns that they can be used to launder money.

State Bank hasn't banned cryptocurrency in Pakistan, lawyer tells SHC

Waqar Zaka says FIA should be stopped from arresting possessors

www.samaa.tv

 

[El Sidd]

1.) Who is Zaka?

2.) Crypto is illegal as per constitution of Pakistan

 

[BlueWhales]

1.) Who is Zaka?

2.) Crypto is illegal as per constitution of Pakistan

1) Waqar Zaka is the petitioner in Bitcoin case.
State Bank of Pakistan said it never banned crypto in Pakistan,
So, Waqar Zaka said FIA should stop arresting people for Bitcoin after SBP remarks..

2) Bitcoin is never Banned, nor ilegal,
Where is it written people are not allowed to sale/purchase btc in constitution of Pakistan ?

In Past, State Bank said Banks cannot deal in Crypto as it is High Risk currency,
But i never stopped/banned people or exchangers to deal it,
it also said SBP will not be guarantor (if people money f*cked as its high risk currency due to its up/down value),

Now, State Bank of Pakistan in Sindh High Court cleared that it never banned crypto in Pakistan
But media news was not accurate..

State Bank hasn't banned cryptocurrency in Pakistan, lawyer tells SHC

Waqar Zaka says FIA should be stopped from arresting possessors

www.samaa.tv